TROUBLED Birmingham City boss Carson Yeung is waiting to hear whether an appeal against an assets freeze order is successful.

In December, more than £55million of the Blues president’s assets were frozen in the wake of allegations of money laundering.

Trading in shares of Blues parent company Birmingham International Holdings Limited on the Honk Kong Stock Exchange were also suspended, at the firm’s request.

Yeung has gone back to court in Hong Kong to argue that the assets freeze order should be lifted.

Philip Dykes, Yeung’s lawyer, stated before the Court of Appeal that a lower court judge who granted the order “should have evaluated the likelihood of conviction” and should have asked prosecutors to ascertain the profits gained from the alleged criminal activity.

Adrian Bell, a lawyer for the Department of Justice, said a prosecution expert witness, Roderick Sutton, came to “definite conclusions” after examining transactions in Yeung’s bank accounts and finding “hallmarks” of money laundering.

Court of Appeal judge Robert Tang said: “The amount frozen at the moment is unlikely to be out of whack if everything goes well for the prosecution.”

Tang and fellow appellate judge Joseph Fok reserved their judgment and will rule at a later date. Yeung, who is the chairman of BIHL, was charged with five counts of money laundering with a total value of £58million in June.

Yeung posted £640,000 in bail but was refused permission to leave Hong Kong in September. He has not been to a Blues game this season.

Then the assets freeze order was made in December.

The money laundering trial is due to start in November.

Acting chairman Peter Pannu last week stated that the assets freeze order had impacted on Blues significantly.

He wrote in his From the Boardroom section of Blues match programme that the club had been ‘short of the funds spent on players and wages’ whilst Blues were in the Premier League which Yeung promised to cover but couldn’t because of his ‘predicament and the freezing of his funds’.

And Pannu stated that Yeung regrets and feels sorry about this.

Pannu also wrote: “You may not believe me when I say this but Carson does care about the club and he would have given us the money he promised if his funds were not frozen.”

The assets freeze order was made against Yeung, his ex-wife Li Wing-Sze, Yeung Chung (who is understood to be Yeung’s father) and Success Orient Investment Ltd.

Yeung is due back in court on June 4 to contest a civil case brought by Wing Hang bank after he defaulted on a £15million November loan designed to prop up BIHL and Blues secured against his plush mansion on The Peak, Hong Kong.